Personal Finance

Bunq makes money through plan subscription fees. It shares revenues or collects fees through third-party product and service arrangements, for instance, its partnership with TransferWise to offer money transfer services. It makes money from card top-ups, deposits, withdrawals, additional accounts, safekeeping, and card issuance. It charges business customers various fees that may not apply to individuals. Click here for Bunq’s fees.

Revolut makes money through plan subscriptions and insurance premiums. It shares revenues or collects fees through third-party product and service arrangements; for example, customers can earn cash rewards through purchases at select partners (Revolut Perks).

Revolut makes money through plan subscriptions and insurance premiums. It shares revenues or collects fees through third-party product and service arrangements; for example, customers can earn cash rewards through purchases at select partners (Revolut Perks). It charges fees on withdrawals above its fair usage limits. Weekend transactions and currency conversion fees may apply. It collects custodial and commissions fees from investment accounts. It makes money from replacement cards and delivery fees. Click here for Revolut’s fees.

Curve makes money through plan subscriptions. It shares revenues or collects fees through third-party product and service arrangements; for example, customers can earn cashback through purchases at select partners (Curve Cash).

Bunq makes money through plan subscription fees. It shares revenues or collects fees through third-party product and service arrangements, for instance, its partnership with Wise to offer money transfer services. It makes money from card top-ups, deposits, withdrawals, additional accounts, safekeeping, and card issuance. It charges business customers various fees that may not apply to individuals. Click here for Bunq’s fees.

N26 makes money through plan subscription, cash management, overdraft, and loan fees. It shares revenues or collects fees through third-party product and service arrangements, for instance, a partnership with Wise to offer money transfer services. It makes money from card issuance and emergency card advances (ECA).

A few banks regularly make headlines for the wrong reasons, for example, Wells Fargo and its numerous scandals, and Goldman Sachs and its constant engagement in criminal behavior. (Banks are run by people, the same suspect people responsible for the dishonest acts above. However, these individuals are rarely held legally accountable. Instead, many walk away unpunished, get golden parachutes, or end up working in the White House.)

The shortcomings of US banks have created opportunities for alternatives. Secondly, new generations of users seek different banking experiences. “Challenger banks” are startups that compete directly with established banks in a country.